It's still hard work though. However, you can probably combine the advice in that book and speed up the process of becoming a millionaire.
Once you get to that, I think you can live off a 3 percent interest. That's 30,000 dollars. I am pretty sure you can manage that if you live like a college student.
I'd spend part of the capital though, or invest on something with a better interest rate (like living off real-estate rent - my grandparents do that).